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FSA hit by boycott as it sets out pension tables

The FSA&#39s comparative pension tables were launched last week amid controversy with Skandia Life and St James Place Capital refusing to participate.

Skandia is boycotting the tables because it claims they do not offer like-for-like comparisons and ignore the impact of past performance.

St James Place, which also refused to take part in the unit trust tables, says it will not participate because they are based purely on charges and do not take account of its active investment management.

Both firms are named and shamed by the FSA on the tables.

Skandia says it is refusing to take part despite the fact its balanced portfolio would have ranked 23rd out of 86 for single-premium products.

The firm asked the FSA to introduce a separate table for multi-manager offerings, which it argued would offer consumers better like-for-like comparisons.

Skandia head of pensions marketing Peter Jordan says: “We disagree with many of the FSA&#39s views on past performance and feel this is a major failing of the tables.

“Many of the companies who have featured well in the tables due to low charges also have very poor investment records. This will not be highlighted by the tables and will no doubt be obscured when past performance data is produced by companies as they close in on for the sale when investors pass through from the FSA website.”


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Auto-enrolment: pay attention or pay the price

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